It is not possible to upgrade the "graphics card" in iMac models made in Late 2012 and newer because there is no "card." All the gfx hardware is integral with the logic boarnd and soldered in place. In this image from iFixit.com:

that little smattering of specks under the heat sink is your "forever" video hardware.
A Late 2014 iMac 5K has four RAM slots and can handle up to 32 GB RAM. Quality Mac-compatible RAM is available from Crucial.com and from Other World Computing. Other sources may not give you proper RAM. Specs are: 204-pin PC3-12800 (1600 MHz) DDR3 SO-DIMM
This is Apple's article on upgrading RAM in iMacs:
Install memory in an iMac - Apple Support